Skip Navigation
The University of Texas at Austin
 

South America


The Venezuela-Guyana Conflict

The Venezuela-Guyana Conflict

Last week, Exxon Mobil announced discovery of 700 million oil barrels at their Liza-1 well. The location is 100 miles from the shore of Guyana, a territory that has been debated belongs to Venezuela. President Nicolas Maduro reached out to Washington for help in order for both countries to peacefully agree on territory settlement. In an…

Venezuela seeks light crude contracts to make blends -sources

PDVSA is looking to buy 70,000 bpd for the next five years. Seeking for the best offer, the company intends to use the barrels of ultralight crude as a diluent of their growing production of extra heavy oil. PDVSA is looking the best offer and expecting an agreement of up to five years. by Reuters, July…

Exxon Mobil’s Guyana find may dwarf nation’s economy

Exxon Mobil’s discovery in Guyana could hold more than 700 million barrels of oil, a resource that is worth more than ten times the nation’s GDP. By Andrew Rosati and Joe Carroll, Bloomberg News,July 21, 2015 An Exxon Mobil Corp. discovery off Guyana may hold oil and natural gas worth 12 times the South American nation’s…

Petrobras Selling Argentine Unit Stake, Province Governor Says

In an effort to cut spending, Petrobras is selling its Argentina stake in the Neuquen Province. Among those interested are YPF, Pan American Energy, Plus Petrol, and Tecpetrol, looking to buy up to 70% of Petrobtras SA. by  Pablo Rosendo Gonzalez, Bloomberg Business, July 17, 2015 Petroleo Brasileiro SA, the world most indebted oil producer, is…

Venezuela expands oil blending scheme with Nigeria crude buys: traders

PDVSA recently bought Nigerian crude oil in order to blend it and expand its portfolio. Venezuela began importing crude reserves from around the world last year, this allows the company to reduce costs. PDVSA also revealed plans with OPEC on blending with its allies in order to compete with the U.S. and Canada. by Reuters,…

Spain’s Repsol in $40 mn oil exploration project in Bolivia

Exploration for oil and gas is about to take place in Bolivia, Repsol will be investing $40 million USD with the objective of confirming area estimates, approximately 0.80 trillion cubic feet of natural gas. by Fox Latino, July 13, 2015 Bolivian oil company YPFB Andina, in which Spain’s Repsol has a 48.92 percent stake, is…

Brazil to ease Petrobras pressure with offshore oil bill

Brazilian government may end Petrobras’ monopoly by opening way to foreign and private investment. Intended to pass this September, the bill recently presented to congress aims to attract big oil players and re-position Brazil’s oil industry. by Joe Leahy, Financial Times, July 05, 2015 Brazil’s congress is likely to pass a landmark bill that could ease…

Petrobras cuts investment plan

Petrobras cuts investment plan

Seeking to cut expenses and pay off its debt, Petrobras will invest 130 billion USD between 2015 – 2019, a decrease of 41% from what was initially planned for 2014 -2018. The oil company also reduced its 2020 production plan for oil and natural gas, lowering it from 5.3 millions to 3.7 per day. by…

Sinopec, Cnooc Said Readying Bids for Petrobras Field Stakes

Sinopec and Cnooc Ltd. are looking to buy Petrobras’ assets in the pre-salt offshore exploration  block. Other interested companies include Royal Dutch Shell Plc and Statoil ASA. by Cristiane Lucchesi, Bloomberg Business, July 01, 2015 Two Chinese companies that entered Brazil’s giant deep-water oilfields two years ago are now looking to increase their presence as state-run…

Argentina and China lead shale development outside North America in first-half 2015

In the last two years, Argentina and China have moved up the rank on oil and gas resources. Argentina has drilled more than 275 wells, producing 22,900 barrels per day and 67 million cubic feet per day of natural gas, this reported on April 2015. On the other hand, China has more than 200 wells…

UT Main  |  UT Directory  |  UT Direct  |  Canvas  |  Privacy Policy  |  Accessibility
© 2015 Jackson School of Geosciences, The University of Texas at Austin
Site Last Modified: July 29, 2015
Twitter Auto Publish Powered By : XYZScripts.com